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Just lying unprovoked

Just lying unprovoked submitted by KingPZe to BlackPeopleTwitter [link] [comments]

Former investment bank FX trader: news trading and second order thinking

Former investment bank FX trader: news trading and second order thinking
Thanks to everyone who responded to the previous pieces on risk management. We ended up with nearly 2,000 upvotes and I'm delighted so many of you found it useful.
This time we're going to focus on a new area: reacting to and trading around news and fundamental developments.
A lot of people get this totally wrong and the main reason is that they trade the news at face value, without considering what the market had already priced in. If you've ever seen what you consider to be "good" or "better than forecast" news come out and yet been confused as the pair did nothing or moved in the opposite direction to expected, read on...
We are going to do this in two parts.
Part I
  • Introduction
  • Why use an economic calendar
  • How to read the calendar
  • Knowing what's priced in
  • Surveys
  • Rates decisions
  • First order thinking vs second order thinking

Introduction

Knowing how to use and benefit from the economic calendar is key for all traders - not just news traders.
In this chapter we are going to take a practical look at how to use the economic calendar. We are also going to look at how to interpret news using second order thinking.
The key concept is learning what has already been ‘priced in’ by the market so we can estimate how the market price might react to the new information.

Why use an economic calendar

The economic calendar contains all the scheduled economic releases for that day and week. Even if you purely trade based on technical analysis, you still must know what is in store.

https://preview.redd.it/20xdiq6gq4k51.png?width=1200&format=png&auto=webp&s=6cd47186db1039be7df4d7ad6782de36da48f1db
Why? Three main reasons.
Firstly, releases can help provide direction. They create trends. For example if GBPUSD has been fluctuating aimlessly within a range and suddenly the Bank of England starts raising rates you better believe the British Pound will start to move. Big news events often start long-term trends which you can trade around.
Secondly, a lot of the volatility occurs around these events. This is because these events give the market new information. Prior to a big scheduled release like the US Non Farm Payrolls you might find no one wants to take a big position. After it is released the market may move violently and potentially not just in a single direction - often prices may overshoot and come back down. Even without a trend this volatility provides lots of trading opportunities for the day trader.

https://preview.redd.it/u17iwbhiq4k51.png?width=1200&format=png&auto=webp&s=98ea8ed154c9468cb62037668c38e7387f2435af
Finally, these releases can change trends. Going into a huge release because of a technical indicator makes little sense. Everything could reverse and stop you out in a moment. You need to be aware of which events are likely to influence the positions you have on so you can decide whether to keep the positions or flatten exposure before the binary event for which you have no edge.
Most traders will therefore ‘scan’ the calendar for the week ahead, noting what the big events are and when they will occur. Then you can focus on each day at a time.

Reading the economic calendar


Most calendars show events cut by trading day. Helpfully they adjust the time of each release to your own timezone. For example we can see that the Bank of Japan Interest Rate decision is happening at 4am local time for this particular London-based trader.

https://preview.redd.it/lmx0q9qoq4k51.jpg?width=1200&format=pjpg&auto=webp&s=c6e9e1533b1ba236e51296de8db3be55dfa78ba1

Note that some events do not happen at a specific time. Think of a Central Banker’s speech for example - this can go on for an hour. It is not like an economic statistic that gets released at a precise time. Clicking the finger emoji will open up additional information on each event.

Event importance

How do you define importance? Well, some events are always unimportant. With the greatest of respect to Italian farmers, nobody cares about mundane releases like Italian farm productivity figures.
Other events always seem to be important. That means, markets consistently react to them and prices move. Interest rate decisions are an example of consistently high importance events.
So the Medium and High can be thought of as guides to how much each event typically affects markets. They are not perfect guides, however, as different events are more or less important depending on the circumstances.
For example, imagine the UK economy was undergoing a consumer-led recovery. The Central Bank has said it would raise interest rates (making GBPUSD move higher) if they feel the consumer is confident.
Consumer confidence data would suddenly become an extremely important event. At other times, when the Central Bank has not said it is focused on the consumer, this release might be near irrelevant.

Knowing what's priced in

Next to each piece of economic data you can normally see three figures. Actual, Forecast, and Previous.
  • Actual refers to the number as it is released.
  • Forecast refers to the consensus estimate from analysts.
  • Previous is what it was last time.
We are going to look at this in a bit more detail later but what you care about is when numbers are better or worse than expected. Whether a number is ‘good’ or ‘bad’ really does not matter much. Yes, really.

Once you understand that markets move based on the news vs expectations, you will be less confused by price action around events

This is a common misunderstanding. Say everyone is expecting ‘great’ economic data and it comes out as ‘good’. Does the price go up?
You might think it should. After all, the economic data was good. However, everyone expected it to be great and it was just … good. The great release was ‘priced in’ by the market already. Most likely the price will be disappointed and go down.
By priced in we simply mean that the market expected it and already bought or sold. The information was already in the price before the announcement.
Incidentally the official forecasts can be pretty stale and might not accurately capture what active traders in the market expect. See the following example.

An example of pricing in

For example, let’s say the market is focused on the number of Tesla deliveries. Analysts think it’ll be 100,000 this quarter. But Elon Musk tweets something that hints he’s really, really, really looking forward to the analyst call. Tesla’s price ticks higher after the tweet as traders put on positions, reflecting the sentiment that Tesla is likely to massively beat the 100,000. (This example is not a real one - it just serves to illustrate the concept.)

Tesla deliveries are up hugely vs last quarter ... but they are disappointing vs market expectations ... what do you think will happen to the stock?

On the day it turns out Tesla hit 101,000. A better than the officially forecasted result - sure - but only marginally. Way below what readers of Musk's twitter account might have thought. Disappointed traders may sell their longs and close out the positions. The stock might go down on ‘good’ results because the market had priced in something even better. (This example is not a real one - it just serves to illustrate the concept.)

Surveys

It can be a little hard to know what the market really expects. Often the published forecasts are stale and do not reflect what actual traders and investors are looking for.
One of the most effective ways is a simple survey of investors. Something like a Twitter poll like this one from CNBC is freely available and not a bad barometer.
CNBC, Bloomberg and other business TV stations often have polls on their Twitter accounts that let you know what others are expecting

Interest rates decisions

We know that interest rates heavily affect currency prices.
For major interest rate decisions there’s a great tool on the CME’s website that you can use.

See the link for a demo

This gives you a % probability of each interest rate level, implied by traded prices in the bond futures market. For example, in the case above the market thinks there’s a 20% chance the Fed will cut rates to 75-100bp.
Obviously this is far more accurate than analyst estimates because it uses actual bond prices where market participants are directly taking risk and placing bets. It basically looks at what interest rate traders are willing to lend at just before/after the date of the central bank meeting to imply the odds that the market ascribes to a change on that date.
Always try to estimate what the market has priced in. That way you have some context for whether the release really was better or worse than expected.

Second order thinking

You have to know what the market expects to try and guess how it’ll react. This is referred to by Howard Marks of Oaktree as second-level thinking. His explanation is so clear I am going to quote extensively.
It really is hard to improve on this clarity of thought:
First-level thinking is simplistic and superficial, and just about everyone can do it (a bad sign for anything involving an attempt at superiority). All the first-level thinker needs is an opinion about the future, as in “The outlook for the company is favorable, meaning the stock will go up.” Second-level thinking is deep, complex and convoluted.
Howard Marks
He explains first-level thinking:
The first-level thinker simply looks for the highest quality company, the best product, the fastest earnings growth or the lowest p/e ratio. He’s ignorant of the very existence of a second level at which to think, and of the need to pursue it.
Howard Marks
The above describes the guy who sees a 101,000 result and buys Tesla stock because - hey, this beat expectations. Marks goes on to describe second-level thinking:
The second-level thinker goes through a much more complex process when thinking about buying an asset. Is it good? Do others think it’s as good as I think it is? Is it really as good as I think it is? Is it as good as others think it is? Is it as good as others think others think it is? How will it change? How do others think it will change? How is it priced given: its current condition; how do I think its conditions will change; how others think it will change; and how others think others think it will change? And that’s just the beginning. No, this isn’t easy.
Howard Marks
In this version of events you are always thinking about the market’s response to Tesla results.
What do you think they’ll announce? What has the market priced in? Is Musk reliable? Are the people who bought because of his tweet likely to hold on if he disappoints or exit immediately? If it goes up at which price will they take profit? How big a number is now considered ‘wow’ by the market?
As Marks says: not easy. However, you need to start getting into the habit of thinking like this if you want to beat the market. You can make gameplans in advance for various scenarios.
Here are some examples from Marks to illustrate the difference between first order and second order thinking.

Some further examples
Trying to react fast to headlines is impossible in today’s market of ultra fast computers. You will never win on speed. Therefore you have to out-think the average participant.

Coming up in part II

Now that we have a basic understanding of concepts such as expectations and what the market has priced in, we can look at some interesting trading techniques and tools.
Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The trimming position effect
  • Reversals
  • Some key FX releases
Hope you enjoyed this note. As always, please reply with any questions/feedback - it is fun to hear from you.
***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

Just some inspirations / reminders on strategy development

I just talk about really major pairs like EURUSD, USDJPY, etc.
Forget about catching a trend, if you wanna trade trends, commodities, stocks, index funds trend way better, a lot more opportunities than forex. Major currencies range at least 70% of the time, if not more. Learn how to make money from ranging markets and hold a trend once you catch it.
The biggest purpose of currency is for settling transactions, not for scalping profits. That's why it doesn't trend (aka remaining stable). Stability is why a currency being "major".
Therefore most indicators don't work well with these currencies because first they are not designed for forex, second most of them only tell trends or overbought/oversold. Unless you are Soros or central banks etc no major currency can be overbought or oversold.
Take advantage of "fakeout" (I still wonder if it's the right way to call it so, Trump's Tweets are one of the sources IMO). Accept the fact that it happens and think about how to profit from it. Market makers and big banks are also just market players, even though very much bigger, they are also profiting from each other. If you can't beat them, join them.
Choppy market is still better than a still market.
No market maker cares about support or resistance. Like no insider or institutional money (i mean human not machines) would spend hours and hours on charts drawing trend lines before they place an order. Why would you?
Planning how to react in different scenarios after a position is opened is much better than trying to act like a crystal ball by looking at history when you trade something that ranges most of the time. The moment you observe a trend, chances are the trend is (almost) over. Even if things are against you, most of the time you can turn it to break even without using lots of margin. (Most news are just as big as baby's cough.)
But still, very few news are really big (911, fukushima, brexit, covid, name it), don't ignore the news completely.
Money management is very important. Most traders (of course including many of those on reddit) just talk about how to make an entry but seldom talk about how to manage an already open position or how to close a trade. The latter is way more important than the former.
Besides japanese candlesticks, there are a lot more charting options out there.
Be creative and know what you are trading to the deepest !
submitted by cindyhont to Forex [link] [comments]

Your Pre Market Brief for 07/16/2020

Pre Market Brief for Thursday July 16th 2020

You can subscribe to the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily 4:00 AM Pre Market Brief in this sub.
Updated as of 4:45 AM EST
-----------------------------------------------
Stock Futures:
Wednesday 07/15/2020 News and Markets Recap:
Thursday July 16th 2020 Economic Calendar (All times are in EST)
(JOBLESS CLAIMS TODAY)
News Heading into Thursday July 16th 2020:
NOTE: I USUALLY (TRY TO) POST MANY OF THE MOST PROMISING, DRAMATIC, OR BAD NEWS OVERNIGHT STORIES THAT ARE LIKELY IMPORTANT TO THE MEMBERS OF THIS SUB AT THE TOP OF THIS LIST. PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH! THE TIME STAMPS ON THESE MAY BE LATER THAN OTHERS ON THE WEB.
Upcoming Earnings:
Commodities:
COVID-19 Stats and News:
Macro Considerations:
Most Recent SEC Filings
Other
-----------------------------------------------
Morning Research and Trading Prep Tool Kit
Other Useful Resources:
The Ultimate Quick Resource For the Amateur Trader.
Subscribe to This Brief and the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily brief in this sub
submitted by Cicero1982 to pennystocks [link] [comments]

Summarizing some free trading idea resources I've been using

I've been following many free resources on youtube and twitter to generate trading ideas. Some of them are suspicious; some are more like boasting their wining trades but never post any losing trades. I see many people ask about trading ideas/resources, so I want to briefly share some resources I find useful.

Twitter resources:
  1. @ TicTocTick


  1. @ tradingwarz


  1. @ traderstewie


Youtube resources:
  1. Conquer trading and investing. https://www.youtube.com/channel/UCN2WmKUchJpIcS1MupY-BuA


  1. Blaze Capital: https://www.youtube.com/channel/UCq0BCGckWWjrnV8YdYO24JA
Other notes:
  1. The scalping trades in the morning is not very suitable for small accounts since they will trade for example 100 shares of BA (~160) to scalp a few dollars per share.
  2. Even though the stocks on their weekly watchlist does well very, one still need to come up with an actionable plan. Very often say they recommend stock A on Sunday, and on Monday it already gaps up big. They sometimes do YOLO options -- big risk big rewards-- options can go to 0.
  3. Besides the free content, everyone can get a free one-week trial for their paid membership, or a 2-week free trial by winning a lottery game on their youtube ( what I did) or knowing someone in their group and get a referral. What I like about the group: (i) very frequently updates each day on SPY and stocks on the watchlist. (ii) all their positions, Profit / Loss are very transparent. I learned a lot about how to manage trades by observing their live trades. (iii) There are many very experienced traders in the group posting their trading ideas, plans, entry/exit, and there are many live discussions. (iv) There's a "helpdesk" in the group where members' questions will be answered in minutes. I often ask about my trading plan, entries/ targets.




Other resources:
  1. Shadow trader free newsletter
https://www.shadowtrader.net/newsletter-category/swing-trade


I've spent much time looking for free contents, and I like the ones above. Also looking forward to hearing about other good/bad resources. I might also update this post if there are enough interests. NFA
submitted by Busy-Valuable to Daytrading [link] [comments]

Recover Stolen Crypto - How to Recover Scammed Bitcoin

“Let me start by sharing my first loss was with bitcoin and cryptocurrency in general. It happened when the exchange closed with our funds. I didn’t even try to contact anyone or alert any authority.” The good news however is that people who have lost bitcoin, other crypto and any other kind of assets can now recover all they have lost bitcoin and crypto.
All you have to do is send an email to [email protected] to recover all lost or stolen bitcoin and crypto. These are the words of an intrepid crypto investor – one of many who responded to a tweet asking about the lack of recourse people face when their assets are stolen in a hack, exit scam or Ponzi scheme.
There’s as much as $10 billion in stolen crypto out there in the market, according to Pawel Kuskowski, CEO of blockchain sleuthing firm Coinfirm. And he wants to give victims a fighting chance at getting their funds back.
Exclusively revealed to Reddit, Coinfirm has teamed up with global investigations firm Kroll, a division of consulting firm Doff & Phelp. The joint initiative being launched is called ReclaimCrypto, and combines the latest blockchain forensic techniques with the more established world of legal investigation and asset recovery.
Kuskowski told Reddit:
“So far, there is no one place where victims can go and get help. It’s almost like they are pleading to get someone interested in their case. In the end, they have to work it out themselves; see about getting a lawyer, perhaps in some other jurisdiction.”
Figures on what is recoverable vary. For instance, CipherTrace, another analytics firm recently said some $4 billion in crypto has been lost this year. Kuskowski’s estimate includes historic (and as yet unresolved) events like Mt Gox, which in today’s money would account for about $1 billion.
Needless to say, Kuskowski and his team are not doing this only for the good of mankind – there are success fees levied on a case-by-case basis, he told CoinDesk, adding:
“Doing the market analysis for this product, we started by calculating the kind of top cases, where we know we could be successful and recover funds, which was about 200 cases.”
Those cases alone account for roughly $1.5 billion, Kuskowski added.
FundsRecovery247.com will Help Recover Your Lost or Stolen Crypto
Coinfirm’s bread and butter is anti-money laundering (AML) within crypto networks, done by analyzing the history of transactions using various smarts and big-data analytics. Similar to the likes of Chainalysis and Elliptic, it works with 50 or so exchanges and has built up a large database in this area.
Coinfirm’s partner, Kroll, takes a more “traditional” approach, which might involve producing court orders to get an internet service provider to reveal details about an IP address, or using former FBI and CIA operatives to scour the dark web for activity involving stolen funds.
It should be pointed out that Kroll is not new to crypto: The firm worked with the U.S. Securities and Exchange Commission (SEC) last year in relation to fraudulent coin offerings. Kroll also tells CoinDesk it helped track down the perpetrators in Europe of $27.8 million bitcoin theft.
If loss victims so choose, Kroll can potentially line up third-party litigation funding. This means firms that provide specialized finance to the legal market, such as Burford Capital or Therium, will shoulder the cost of people’s litigation. For this, they take about 30 percent of the recovered funds and return the rest to the victims.
Benedict Hamilton, a managing director at Kroll, told CoinDesk:
“From a victim’s point of view, where the police have failed to recover that money, they are not having to spend anything to get something. And no one recovers funds on their behalf without their permission. It makes the whole economics of recovering stolen funds very different – which is very exciting.”
Referring to Coinfirm as “a torch shining on the blockchain,” Hamilton said this can be extended by Kroll into the murky depths of the dark web. Kroll Cyber runs a specialist darkweb unit out of Pittsburgh, Pa., which is overseen by Keith Wojcieszek, the former head of the criminal investigations unit of the U.S. Secret Service’s cyber division.
This operation crunches petabytes of dark web data from peer-to-peer sites, said Hamilton, adding:
“With the ReclaimCrypto initiative in mind we have have been able to repurpose it so we can go into that database with a wallet string and look for any identifiers that are associated with that wallet name – perhaps a conversation over the selling of stolen credit cards or someone offering criminal services and providing that wallet as an address.”
Follow the moneyHamilton explained that there are two paths that can be followed when it comes to a crypto investigation: figure out who did it or follow the money.
ReclaimCrypto’s objective here is asset recovery, first and foremost, since that’s what the client is paying for. But ultimately both paths lead to the same place, said Hamilton, adding:
“It is inconceivable that the investigative process would finish without us giving all the details to relevant law enforcement for them then to get the benefit of the work and lock the thieves up.”
The majority of ReclaimCrypto’s focus will be on bitcoin and ether, but will also cover XRP, BCH, LTC, NEO and DASH.
As for those who’ve had coins pilfered, some remain philosophical about it. “That’s life,” said the aforementioned investor, adding:
“It made me grow a lot and it’s part of my adventure in crypto.”
5 Ways to Recover Your Stolen or Lost Crypto
Cryptocurrency is generally considered to be secure, but sometimes things do happen. Even top traders have had cryptoassets lost or stolen and, until quite recently, it seemed like there was very little one could actually do about it. Thankfully, there are ways to get your cryptocurrency back. We’ll be looking at the best ways to recover your lost or stolen crypto, and how to avoid going through something so traumatic in the first place!
Act as quickly as possible
Benjamin Sauter, a partner at Kobre & Kim, a law and an expert in crypto theft cases, told Decrypt, “The quicker you can act, the better,”. The longer you wait to start tracing your crypto, the more time you give thieves to transfer your assets to cold storage, send them to sketchy exchanges, or to tumblers to mix them up. “The more sophisticated you are, and the less sophisticated the thieves are at laundering the assets, the better chance you have,” Sauter continued.
Legality
For the legal system to actually work in your favour, you’ll likely need to know who stole your cryptocurrency. While you may be able to freeze funds against a John Doe, it’ll be challenging. According to Marc Jones, a partner at Stewarts Law in the UK, “In general, to enforce an order requiring fraudsters to pay damages or handover stolen property, ultimately you’ll need to know who they are.”
Thankfully, one of the many benefits of cryptocurrency is that you can see where the coins have gone. If they go through an exchange, you’ll most likely be able to find out who the wallet holder is thanks to the KYC process. From there, you can get a court order to reveal the thief’s identity and recover your stolen crypto.
Recovering lost crypto from a cold wallet
Cold wallets are offline wallets that are designed for storing cryptocurrencies. With cold storage, the digital wallet is stored on a platform without internet connectivity. This protects the wallet from cyber hacks, unauthorized access, and other vulnerabilities that could be exploited if they were connected to the internet.
There are a number of different ways that you can recover from cold wallets:
Recover Your Stolen or Lost Bitcoin Crypto with FundsRecovery247
Coinfirm is teaming up with global investigations firm Kroll, to launch a joint initiative called CryptoRecovery. CryptoRecovery combines the latest blockchain forensic techniques with the world of legal investigation and asset recovery. Pawel Kuskowski, CEO of Coinfirm told Coindesk:
So far, there is no one place where victims can go and get help. It’s almost like they are pleading to get someone interested in their case. In the end, they have to work it out themselves; see about getting a lawyer, perhaps in some other jurisdictions.”
CryptoRecovery aims to help in the recovery of stolen cryptocurrency. You can submit an initial form with the data about your stolen coins, and CryptoRecovery will do an assessment. You’ll only be charged a success fee on the crypto they recover for you, not for the initial assessment! Have you lost bitcoin, crypto or any other digital asset and need to get it back? Send an email to - [email protected]
submitted by Seoexpert33 to u/Seoexpert33 [link] [comments]

Forex- $11K tweet and Congratulations on Dogecoin's 100th day

Forex- $11K tweet and Congratulations on Dogecoin's 100th day submitted by noelrojo to dogecoin [link] [comments]

【U.S. Election 2020】Trump or Biden: Who's tougher on China?

【U.S. Election 2020】Trump or Biden: Who's tougher on China?

Photo:Internet
As the pandemic has spread around the world this year, new rhetoric about being "tough" on China has unfurled throughout the political conversation in the United States.
Trump VS. Biden: Attitudes to China
Biden and his campaign have spoken in broad strokes without offering details about exactly how far he would be willing to confront China on trade, human rights, cyber-espionage, or its growing presence in the South China Sea.
Biden also says that he would shore up U.S. alliances, which he says Trump has badly damaged, to present a united front against Beijing and that he would invest in high-tech research and education to make the U.S. economy more competitive.
Biden only mentioned China once in his speech on Aug. 20th.
In comparison, Trump mentioned China many times in his speech on Aug. 27th.
During his speech, President Donald Trump claimed that he has "very good information" that China wants Biden to win because Biden cheers for China.
In fact, Trump enjoyed good relations with China leader Xi Jinping early in his administration while the two leaders engaged in major trade talks, and later, after the coronavirus began to spread, Trump praised Xi for his handling of the crisis. Once the relationship soured, and Trump began blaming China for U.S. public health and economic woes.
"Joe Biden's agenda is made in China. My agenda is made in the USA," Trump said.

Photo: Reuters
Trump or Biden? China expects no favours either way
Decoupling
This word gets used a lot these days. President Trump and his administration talk about it in tweets and in press statements in relation to China.
Decoupling basically means undoing more than three decades' worth of U.S. business relations with China.
Everything is on the cards: from getting American factories to pull their supply chains out of the mainland, to forcing Chinese-owned companies that operate in the U.S. - like TikTok and Tencent - to swap their Chinese owners for American ones.
Make no mistake, under a Trump administration "decoupling will be accelerated", according to Solomon Yue, vice chairman and chief executive of the Republicans Overseas lobby group.
While the U.S. has had some success in forcing American companies to stop doing business with Chinese tech giants like Huawei, it is pushing Chinese firms to develop self-sufficiency in some key industries, like chip-making and artificial intelligence.
Delisting
As part of its focus on China, the Trump administration has come up with a set of recommendations for Chinese firms listed in the U.S., setting a January 2022 deadline to comply with new rules on auditing.
While a Biden administration may not necessarily push through with the exact same ban, analysts say the scrutiny and tone of these recommendations is likely to stay.
While fears of being delisted aren't high on the list of concerns for Chinese companies that are already listed in the U.S., it's enough to sway the decisions of companies that are looking to float in the future.
Take Ant Group, for example, the mammoth Chinese digital financial services group that this week filed for an IPO.
Affiliated to the Alibaba Group, which is listed in the U.S. and Hong Kong, it chose Hong Kong and Shanghai in which to sell its shares instead of the U.S.
Increasingly other Chinese companies are likely to follow suit, as tensions between the U.S. and China get worse.
Deglobalisation
China has been one of the biggest beneficiaries of globalisation over the last 30 years. It has helped hundreds of millions of Chinese afford a better quality and standard of life, the bedrock upon which President Xi Jinping's Chinese Dream is based.
But that's precisely what President Trump says needs to change: his administration argues that China has become richer while the U.S. has become poorer.
During Mr. Trump's term, deglobalisation - where borders are less open, and trade is less free - has become a trend. And it's something that Beijing knows won't change even after the election.
Regardless of whether Biden or Trump is elected president, US-China relations Relations have a great impact on financial markets. The global market is anxiously awaiting the end of this election.


https://preview.redd.it/n1bgv6csd1n51.png?width=686&format=png&auto=webp&s=5d90f790a9631a69d1e2c121d33bf5eb20fe33c2

https://preview.redd.it/tgns8zhtd1n51.png?width=686&format=png&auto=webp&s=9b3a66ae41cf1e94d6610e97d96a5dc61eb472c0
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submitted by top1markets to u/top1markets [link] [comments]

Confused about security for VPS

I am a linux noob and trying to setup a VPS on Vultr.
I am kinda OCD about certain things and want to make sure my security is good enough.
I don't know how often Vultr servers get hacked, not even planning on using it for much else either than making some tweets, scraping some data and possibly trading some forex using a bot. Since personal accounts and money is involved I really don't want to get hacked.
There is soooo much information out there and lots of premade scripts. The problem is I don't know what is overkill and what is not.
https://github.com/konstruktoid/hardening
https://github.com/florianutz/Ubuntu1804-CIS
https://github.com/xairy/ubuntu-hardening
https://www.thefanclub.co.za/how-to/how-secure-ubuntu-1604-lts-server-part-1-basics
https://www.vultr.com/docs/initial-secure-server-configuration-of-ubuntu-18-04
There is also GRSecurity kernel patch?
Which of these should I be following? What is a bare minimum and what is overkill?
Thanks everyone
submitted by chinchilladust to linuxquestions [link] [comments]

[Forex Minute] Dogecoin: Historical Tweet Raises $11,000 for Kenyans

[Forex Minute] Dogecoin: Historical Tweet Raises $11,000 for Kenyans submitted by Fingebimus to DogeNews [link] [comments]

Immediate Aftermath : The more data we collect and analyze, the clearer the picture becomes.

This is the updated first part of the list that has recorded the notable events as the world deals with the COVID-19 pandemic. [2nd Part] ― The LINKS to events and sources are placed throughout the timeline.
------------------------
The More Data We Collect and Analyze, the Clearer the Picture Becomes.
Someone threw a stone in a pond a long way away. And we're only just feeling the ripples. — Fukuhara from Giri/Haji, Netflix series
------------------------
On Jan 30, Italian PM announced that Italy had blocked all flights to and from China. While Italy has banned people from air-travelling to China, however according to IATA data, there's no measurement implemented for air-travellers from China into Italy till the Mar 07. Especially for Chinese people who have EU passports.
On Jan 31, the US announced the category-I travel restrictions, barring all foreigners who have been in China for the past 14 days, with measures including the refusal of visas and mandatory quarantine.
• "Because the US focused on China and didn't expect the infected people's entry from Europe and the Middle East, the Maginot Line was breached from behind. And so little of credible data at the beginning made the US government to miscalculate its strategic response to the virus." — Dr. Zhang Lun, currently a visiting scholar at Harvard (economics & sociology), during the interview with ICPC on Mar 29.
Also on Jan 31, the WHO changed its tune and declared the coronavirus outbreak a Global Public Health Emergency of international concern (PHEIC).
Decisions on a PHEIC always involve politics .... West African countries discouraged a declaration in 2014 after they were hit by the largest Ebola virus outbreak on record, mainly because of concern about the economic impact.
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On Feb 02, regarding the US category-I travel restrictions, Kamala Harris, the former Democratic presidential candidate, declared on Twitter:
Since 2017, Trump’s travel bans have never been rooted in national security—they’re about discriminating against people of color. They are, without a doubt, rooted in anti-immigrant, white supremacist ideologies. This travel ban is no different.
On Feb 03, criticizing Trump for his travel restrictions continues. Chinese foreign ministry spokeswoman Hua Chunying (华春莹), a Peking University professors James Liang (梁建章), New York Times, the Nation, OBSERVER, the Boston Globe, Yahoo, and Daily Kos were saying,
it's a "panicky" decision and "racist" or it's "cruel and callous," he's stoking fear for political gains, and the president is "inappropriately overreacting." And professors Liang even said the US ban "will hurt goodwill and cooperation [with China] in the future." [1] [2] [3] [4] [5] [6] [7] [8] [9]
Also on Feb 03, Mr. Tedros of the WHO said there's no need for travel ban measure that "unnecessarily interfere with international travel and trade" trying to halt the spread of the virus.
China's delegate took the floor ... and denounced measures by "some countries" that have denied entry to people holding passports issued in Hubei province - at the centre of the outbreak - and to deny visas and cancel flights.
Also on Feb 03, China is expected to gradually implement a larger stimulus packages (in total) than a USD $572 billion from 2008. — We'd never find out but my guess is that the fund will probably go to Shanghai clique.
On Feb 04, The FDA has given emergency authorization to a new test kit by the CDC that promises to help public health labs meet a potential surge in cases.
The speed ... pushing through a new diagnostic test shows just how seriously they’re taking the potentially pandemic threat of 2019-nCoV. It’s also a sign that the world is starting to learn how to deal with an onslaught of new pathogens.
Also on Feb 04, the Wuhan Institute of Virology and China's Academy of Military Medical Sciences (AMMS, Chief Chen Wei belongs to) have jointly applied to patent the use of Remdesivir. Scientists from both institutes said in a paper published in Nature’s Cell Research that they found both Remdesivir and Chloroquine to be an effective way to inhibit the coronavirus.
On Feb 06, Jamestown Foundation, a Washington-based research & analysis unit, noted that with State Council of PRC praising his performance of containing the pandemic situation, the council expanded Li Keqiang's political control over Politburo Standing Committee of CCP. (Li Keqiang = Communist Youth League = Shanghai clique)
Also, on Feb 06, as the US evacuation planes leave China, the wave of the US evacuees have arrived who are met by the CDC personnel at the quarantine sites for screening, and those who were suspected of infection will be placed under quarantine for 14 days.
Also, on Feb 06, a CDC-developed lab test kit to detect the new coronavirus began shipping to qualified US laboratories and international ones. — However, on Feb 12, the CDC said some of the testing kits have flaws and do not work properly. The CDC finally ended up shipping the working test kits for mass testings on Feb 27. This was three weeks later than originally planned.
On Feb 07, China National Petroleum has recently declared Force Majeure on gas imports. They are trying to create a breathing room for their foreign exchange reserves shortage. China's foreign exchange reserves fell to mere USD $3.1 trillion in Oct. 2019.
On the same day, Bloomberg reported that PetroChina has directed employees in 20 countries to buy N95 face masks and send them home in China. The goal is to get 2 million masks shipped back. You can also find YouTube videos that show Overseas Chinese are scouring the masks at the Home Depot to ship them to China (the video in Korean). Also Chris Smith is pissed.
On Feb 09, Trump renews his national emergency on its southern border, and Elizabeth Goitein from the Brennan Center for Justice, published an opinion article on New York Times titled "Trump Has Abused This Power. And He Will Again if He’s Not Stopped."
On Feb 10, Dr. Tedros said that an advance three-person team of the WHO arrived in Beijing for a joint mission to discuss with Chinese officials the agenda and questions. Then, the joint mission of about 10 international experts will soon follow, he said. — Those WHO experts ended up visiting Chinese epicentre for the first time on Feb 24.
On Feb 12, the US targets Russian oil company for helping Venezuela skirt sanctions. The US admin seemingly tried to secure leverage against Russia after noticing something suspicious was up.
On the same day, Trump told Reuters "I hope this outbreak or this event (for the US) may be over in something like April." — Dr. Zhong Nanshan (钟南山), China's top tier SARS-hero doctor, also said "the peak of the virus (for China) should come in mid to late February, followed by a plateau or decrease," adding that his forecast was based on on mathematical modelling and data from recent events and government action.
On Feb 13, Tom Frieden who is a former US CDC chief and currently the head of public health nonprofit Resolve to Save Lives, said:
As countries are trying to develop their own control strategies, they are looking for evidence of whether the situation in China is getting worse or better. [But] We still don't have very basic information. [since the WHO just entered China] We hope that information will be coming out.
On the same day, the CDC reports that the 15th case in the US was confirmed. The patient was a part of group who were under a federal quarantine order at the JBSA-Lackland base because of a recent trip to Hubei Province, China.
By Feb 13, China hasn't accepted the US CDC's offer to send top experts, and they haven't released the "disaggregated" data (specific figures broken out from the overall numbers) even though repeatedly been asked.
On Feb 14, CCP's United Front posted an article on its official website, saying (Eng. text by Google Translation):
Fast! There is no time difference to raise urgently needed materials! Some Overseas Chinese have used their professions in the field of medicine in order to purchase relevant materials Hubei province in short of supply (to send them to China). .... Some Overseas Chinese took advantage of the connection resources, opened green transportation channels through our embassies and consulates abroad, and their related enterprises, and quickly sent large quantities of medical supplies (to China), making this love relay link and cooperation seamless.
On Feb 18, Reuters reports that 3M is on the list of firms eligible for China loans to ease coronavirus crisis.
There is no indication from the list that loans offered will necessarily be sought, or that such firms are in any financial need. The Bank of Shanghai told Reuters it will lend 5.5 billion yuan ($786 million) to 57 firms on its list.
On Feb 21, Xi Jinping writes a thank-you letter to Bill Gates for his foundation’s support to China regarding COVID-19 outbreak.
On Feb 24, China was rumoured on Twitter to delay the phase one trade deal implementation indefinitely which includes the increase of China's purchasing American products & services by at least $200 billion over the next two years.
Also on Feb 24, S&P 500 Index started to drop. Opened with 3225.9 and closed 3128.2. By the Mar 23, it dropped to 2208.9.
Also on Feb 24, China's National Health Commission says the WHO experts have visited Wuhan city for the first time, the locked-down central Chinese city at the epicentre, inspecting two hospitals and a makeshift one at a sports centre.
On Feb 26, IF the picture that has been circulated on Twitter were real, then chief Chen Wei and her team have developed the first batch of COVID-19 vaccine within time frame of a month.
On the same day, the CDC's latest figures displays 59 people in the US who have tested positive for COVID-19.
Also on Feb 26, the Washington Post published an article that says:
.... the WHO said it has repeatedly asked Chinese officials for "disaggregated" data — meaning specific figures broken out from the overall numbers — that could shed light on hospital transmission and help assess the level of risk front-line workers face. "We received disaggregated information at intervals, though not details about health care workers," said Tarik Jasarevic of the WHO. — The comment, in an email on Feb 22 to the Post, was one of the first instances that the WHO had directly addressed shortcomings in China's reporting or handling of the coronavirus crisis.
On Feb 27, after missteps, the CDC says its test kit is ready and the US started to expand testing.
On Feb 28, China transferred more than 80,000 Uighurs to factories used by global brands such as Apple, Nike, & Volkswagen & among others.
Also on Feb 28, the WHO published the official report of the WHO-China joint mission on coronavirus disease 2019. (PDF)
On Feb 29, quoting Caixin media's investigation published on the same day, Lianhe Zaobao, the largest Singapore-based Chinese-language newspaper, published an article reporting the following:
Dr. Li Wenliang said in the interview with Caixin media; [in Dec 2019] another doctor (later turned out to be Dr. Ai Fen) examined and tried to treat a patient who exhibited SARS-like symptoms which akin to influenza resistant to conventional treatment methods. And "the family members who took care of her (the patient) that night also had a fever, and her other daughter also had a fever. This is obviously from person to person" Dr. Li said in the interview."
------------------------
On Mar 01, China's State Council super tighten up their already draconian internet law.
On the same day, Princelings published an propaganda called "A Battle Against Epidemic: China Combating COVID-19 in 2020" which compiles numerous state media accounts on the heroic leadership of Xi Jinping, the vital role of the Communist Party, and the superiority of the Chinese system in fighting the virus.
Starting on Mar 03, the US Fed has taken two significant measures to provide monetary stimulus. It's going to be no use as if a group of people with serious means are manipulating the markets to make sure MM will have liquidity concerns when they need it most.
On Mar 04, Xinhua News, China's official state-run press agency posted an article "Be bold: the world should thank China" which states that
If China retaliates against the US at this time, it will also announce strategic control over medical products, and ban exports of said products to the US. ... If China declares today that its drugs are for domestic use only, the US will fall into the hell of new coronavirus epidemic.
On Mar 05, Shanghai Index has recovered the coronavirus loss almost completely.
On Mar 07, Saudi's Ahmed bin Abdulaziz and Muhammad bin Nayef were arrested on the claims of plotting to overthrow King Salman. — Ahmed bin Abdulaziz is known to have very tight investment-interest relationship with Bill Gates, Bill Browder, Blackstone, & BlackRock: One common factor that connects these people is China.
On Mar 08, the Russia–Saudi oil price war has begun. The ostensible reason was simple: China, the biggest importer of oil from Saudi and Russia, was turning back tankers while claiming that the outbreak forced its economy to a standstill.
On Mar 10, the Washington Post published the article saying that the trade group for manufacturers of personal protective equipment urged in 2009 "immediate action" to restock the national stockpile including N95 masks, but it hasn't been replenished since.
On Mar 11, the gentleman at the WHO declares the coronavirus outbreak a "Global Pandemic." He called on governments to change the course of the outbreak by taking "urgent and aggressive action." This was a full twelve days after the organization published the official report regarding the situation in China.
On Mar 13, the US admin declared a National Emergency and announced the plan to release $50 billion in federal resources amid COVID-19.
Also on Mar 13, China's Ministry of Commerce states that China is now the best region for global investment hedging.
On Mar 15, Business Insider reports that Trump tried to poach German scientists working on a coronavirus vaccine and offered cash so it would be exclusive to the US. The problem is the official CureVac (the German company) twitter account, on Mar 16, 2020, tweeted the following:
To make it clear again on coronavirus: CureVac has not received from the US government or related entities an offer before, during and since the Task Force meeting in the White House on March 2. CureVac rejects all allegations from press.
On Mar 16, the fan club of European globalists has published a piece titled, "China and Coronavirus: From Home-Made Disaster to Global Mega-Opportunity." The piece says:
The Chinese method is the only method that has proved successful [in fighting the virus], is a message spread online in China by influencers, including many essentially promoting propaganda. ... it is certainly a message that seems to be resonating with opinion leaders around the world.
On the same day, unlike China that had one epicentre, Wuhan city, the US now overtakes China with most cases reporting multiple epicentres simultaneously.
Also on Mar 16, the US stocks ended sharply lower with the Dow posting its worst point drop in history. But some showed a faint hint of uncertain hope.
On Mar 17, according to an article on Chinese version of Quora, Zhihu, chief Chen Wei and her team with CanSino Biologics officially initiated a Phase-1 clinical trial for COVID-19 vaccine at the Wuhan lab, Hubei China, which Bloomberg News confirmed. — Click HERE, then set its time period as 1 year, and see when the graph has started to move up.
Also on Mar 17, China's state media, China Global TV Network (CGTN), has produced YouTube videos for Middle Eastern audiences to spread the opinion that the US has engineered COVID-19 events.
Also on Mar 17, Al Jazeera reported that the US President has been criticized for repeatedly referring to the coronavirus as the "Chinese Virus" as critics saying Trump is "fueling bigotry."
• China's Xinhua News tweeted "Racism is not the right tool to cover your own incompetence."
• Tucker Carlson asked: "Why would America's media take China's side amid coronavirus pandemic?"
• Also, Mr. Bill Gates: "We should not call this the Chinese virus."
On Mar 19, for the first time, China reports zero local infections.
Also on Mar 19, Al Jazeera published an analysis report, titled "Coronavirus erodes Trump's re-election prospects."
On Mar 22, Bloomberg reports that China's mobile carriers lost 21 million users during this pandemic event. It's said to be the first net decline since starting to report monthly data in 2000.
On Mar 26, EURACTV reports that China cashes in off coronavirus, selling Spain $466 million in supplies. However, Spain returns 9,000 "quick result" test kits to China, because they were deemed substandard. — Especially the sensibility of the test was around 30 percent, when it should be higher than 80 percent.
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On Apr 03, Germany and other governments are bolstering corporate defenses to address worries that coronavirus-weakened companies could be easy prey for bargain hunting by China's state owned businesses.
On Apr 05, New York Times says "Trump Again Promotes Use of Unproven Anti-Malaria Drug (hydroxychloroquine)."
On Apr 06, a Democratic State Rep. Karen Whitsett from Detroit credits hydroxychloroquine and President Trump for "saving her in her battle with the coronavirus."
On Apr 07, the US CDC removed the following part from its website.
Although optimal dosing and duration of hydroxychloroquine for treatment of COVID-19 are unknown, some U.S. clinicians have reported anecdotally different hydroxychloroquine dosing such as: 400mg BID on day one, then daily for 5 days; 400 mg BID on day one, then 200mg BID for 4 days; 600 mg BID on day one, then 400mg daily on days 2-5.
------------------------
☞ If there were ever a time for people not to be partisan and tribal, the time has come: We need to be ever vigilant and attentive to all kinds of disinformation & misinformation to see it better as well as to be sharp in our lives. — We really do need to come together.
☞ At first, I was going to draw up a conspiracy theory-oriented list focused on Team-Z, especially Mr. Gates. However, although it's nothing new tbh, recently many chats and discussions seem overflowing with disinformation & misinformation which is, in my opinion, particularly painful at a time like this. Hence, this post became a vanilla list that's just recorded the notable events. — We all are subject to misinformation, miscalculation, and misjudgment. But the clearer the picture becomes the better we can identify Funkspiel.
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Immediate Aftermath pt.2.a
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Feasible Timeline of the Operation
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☞ Go Back to the Short Story.
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Hourly News Update

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Question about "6 trillion dollar" response by the US government regarding COVID19.

Hello everyone, this is my first time posting here. I'm having a hard time understanding something and i thought you might be able to explain this to me.
I'm not a very active trader but i observe markets and realize forex is going wild during this coronavirus situation, especially realizing the dollar is actually really strong even though very inflationary measures exceeding other countries have been taken. I also understand that it might be hard for me to put it in perspective so this is why i came here.
Even before the coronavirus hit i saw trump tweet about spending 2 trillion on the military, now i see articles about the corona stimulus being "7 trillion and rising" and if im not wrong there was even something else where i read (before corona) that there were another 3 trillion+ being created in addition to the 2 trillion for the military.
So if i add this up and pretend those 3 trillion where i unfortunately can't find the article for right now don't exist it will still roughly be around 10 trillion dollars. The US total debt is around 25 Trillion right now so it would mean that they added 1/3rd of their entire debt, which took them more than 100 years to create, on top in only a couple of months recently.

What i don't understand here is;
- How much got really "created"
- Is this additional debt or just some emergency 'theoretical' money that hasn't actually been issued yet? I assume it is debt but also i don't really understand it.
- Who is the main lender? Is it the Federal Reserve? is it China?
- I read that China's response is something like 80 billion but i also read something about 200 billion but i might mistaken that with the trade deal thing.
- Where does one get detailed information about this subject? (US debt/obligation increase)

I really hope i can get some insights about this here! Looking forward to your replies!
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Some news you may have missed out on part 134.

-Rupee continues to recover, gains Rs4.16 in four months
The Pakistani rupee has maintained a gradual uptrend against the US dollar since the beginning of current fiscal year in July and is anticipated to gain more ground in the remaining eight months amid expectations of increase in foreign currency inflows.
The rupee gradually strengthened Rs4.16 or 2.60% in the past around four months to Rs155.88 to the US dollar in the inter-bank market on Friday, according to the State Bank of Pakistan (SBP). “The rupee may recover to 145 to the greenback by June 30, 2020,” Forex Association of Pakistan (FAP) President Malik Bostan projected while talking to The Express Tribune.
Further: -In a positive development, Pakistani Rupee hits highest level of four months against US dollar
The Pakistani rupee has shown recovery against the US dollar as the US currency reached the lowest level in four months.
-ExxonMobil to help build LNG terminal in Pakistan
After getting a liquefied natural gas (LNG) supply contract from private-sector consumers, US energy giant ExxonMobil is planning to build the third LNG terminal in Karachi as a joint-venture partner.
Some time ago, ExxonMobil, in collaboration with Pakistan’s exploration and production companies, drilled an offshore well to search for hydrocarbon reserves in the Arabian Sea. However, the effort could not prove successful. Now, in a new venture with Energas consortium, the US firm is going to invest in setting up an LNG terminal in Pakistan.
-Pakistan's Hindu community celebrates Diwali today in a renovated temple reopened by the Pakistan government after 72 years
he country’s Hindu community is celebrating the annual religious festival of Diwali. The religious festivities are expected to take place in Shawala Teja Singh Temple, located in Sialkot, after 72 years.
All preparations for the upcoming festival have been completed. The festival of Diwali is being seen as more of a cultural than a religious one as people from other faiths will celebrate alongside members of the Hindu community.
The temple, where the festivities will take place, was closed down in 1947. The Evacuee Trust Property Board (ETPB) and certain members of the Hindu community decided to open the temple a few months ago, after which the renewal and renovation work had begun. Now, for the first time, this temple is going to celebrate a religious ceremony.
-Tax Returns Filed Per Day in 2019 Have Increased by 127 Percent: FBR Chairman
Federal Board of Revenue’s (FBR) Chairman Syed Shabbar Zaidi has announced that on average, tax returns filed per day in 2019 have risen by 127 percent compared to last year. In a Twitter post, Zaidi shared details of the tax returns filed so far. As per the records, the number of tax returns filed in 2019 till October 25 stands at 918,027, as compared to 585,209 tax returns filed in the same period last year.
Zaidi said that as of November, the FBR will impose strict measures against unauthorized interactions and harassement between its staff and the business community. The business community is suggested to report to FBR if any person contacts them through any manner without proper authorization.
-Pakistan, Nepal agree to enhance trade ties
President Dr. Arif Alvi on Saturday held a meeting with the Nepal’s Prime Minister Khadga Prasad Sharma Oli on the sidelines of 18th Non Aligned Movement Summit in Baku, ARY News reported.
According to a statement issued by the ministry, both the leaders affirmed to enhance trade ties between the two countries and expressed their desire to further strengthen the bonds of friendship. Matters of mutual interest, bilateral relations, regional peace, grave human rights violations and humanitarian crisis in occupied Kashmir and other issues were came under discussion in the meeting.
Speaking on the occasion, President Alvi briefed the Nepalese prime minister on Indian illegal actions in occupied Kashmir. He expressed hope that Nepal will play its role as SAARC chair, for strengthening peace and stability in the region.
-CPEC enters into 2nd phase: Poverty, agriculture, B2B initiatives prime focus: Khusro
Federal Minister for Planning, Development & Reform Makhdoom Khusro Bakhtyar Wednesday said the CPEC has now entered into its second phase with focus on poverty alleviation, agriculture and B2B industrial cooperation.
“The Pakistan Tehreek-e-Insaf (PTI) government's economic reform measures will strengthen the country's economy as the investors' confidence is rebounding due to corrective measures," the minister expressed these views while talking to Australian High Commissioner Dr Geoffrey Shaw who called on him on Wednesday. Secretary Planning Zafar Hasan was also present in the meeting.
While discussing bilateral relations and foreign investment in various sectors in Pakistan especially in Gwadar, the minister said that ongoing phase of CPEC will bring about socioeconomic benefits for the welfare of the people. He said that CPEC offers enormous potential to boost national economy and reduce poverty.
-Pakistan's Defence Exports have reached USD 212.6 MILLION IN 2018-2019
According to the Pakistan Ministry of Defence Production’s (MoDP) “First Year Performance Report,” the country had registered $212.6 million US in defence exports from August 2018 to August 2019.
Pakistan Aeronautical Complex (PAC) booked the highest value at $184.38 million US, which was followed by Pakistan Ordnance Factories (POF) at $7.13 million US and Heavy Industries Taxila (HIT) at $1.3 million US. In addition, private sector firms booked $19.36 million US in sales.
No additional breakdowns were provided by the MoDP. It is likely that PAC’s exports were fueled by co-production work for FC-1/JF-17 sales to Myanmar and/or Nigeria. Though an agreement was signed with Turkey for the sale of 52 Super Mushshak basic trainers, it is unclear if PAC has started manufacturing these aircraft.
-DRAP to launch countrywide drive against substandard, spurious medicines
The Drug Regulatory Authority of Pakistan (DRAP) is launching a countrywide campaign against substandard medicines, the PM’s Special Assistant on Health Dr. Zafar Mirza said while addressing the federal and provincial drug inspectors in Islamabad on Thursday.
He said a crackdown is being launched throughout the country to eradicate the menace of unregistered, spurious and sub-standard medicine. In addition to medicine quality, he added, DRAP will also take stern action against violation of fixed prices of medicines.
-Foreign exchange: SBP reserves increase $79m to $7.89b
The foreign exchange reserves held by the central bank increased 1.14% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday.
Earlier, the reserves had spiralled downwards, falling below the $7-billion mark, which raised concern over Pakistan’s ability to meet its financing requirements. However, financial assistance from the United Arab Emirates (UAE), Saudi Arabia and other friendly nations helped shore up the foreign exchange reserves.
On October 18, the foreign currency reserves held by the SBP were recorded at $7,892.7 million, up $79 million compared with $7,813.7 million in the previous week. The report cited no reason for the increase in reserves, which stood below the $8-billion mark.
-Ease of business: Pakistan up 28 places on World Bank index
Pakistan has jumped up 28 places on the World Bank’s (WB) Ease of Doing Business Index and secured a place among the top 10 countries with the most improved business climate – a development that will greatly improve Islamabad’s image abroad,
Pakistan carried out six reforms that helped improving its ranking from 136 to 108, according to the WB’s annual flagship report, ‘Ease of Doing Business 2020’, released on Thursday. It turned out to be the sixth global reformer and first in South Asia that brought ease in doing business in the last one year.
The fewer are the regulations the better is the ranking on the index. The key to attain perfection is to cut the bureaucracy hindering business activities in the name of various regulations and procedures.
-CM approves Rs 500m for Punjab Housing & Town Planning Agency
Punjab Chief Minister Sardar Usman Buzdar has given approval of Rs 500 million for Punjab Housing & Town Planning Agency. He gave approval while presiding over a high-level meeting at CM Office here on Monday. During the meeting progress on Naya Pakistan Housing Project for low-income persons was reviewed and detailed briefing was also given to the participants on Naya Pakistan Housing strategy.
While addressing the meeting, Usman Buzdar said that obstacles should be removed in order to ensure completion of Naya Pakistan Housing Scheme and financial conditions of common man should be kept in mind while chalking out housing policy of the project. All out attention should be paid while constructing small houses in the province, he added. It has also been decided during the meeting to launch rural housing project in 17 model villages.
-KSE 100 gains 204 points amid improved sentiments
The benchmark KSE 100 Index depicted remarkable progress as it gained around 204 points and concluded at 33,861-level.It was a busy start to the week at the Pakistan Stock Exchange (PSX) with earnings season hitting its peak, while volumes remained at par with previous weeks’ average.
Biggest single day investment in treasury bills in the previous week of estimated US $87.5 million, increasing total investment to US$440 million since July 2019 was the major rally point in the market sentiments.
The bourse recorded an intraday low of 33,572.36 soon after the commencement of the session. However, after regaining the momentum, the index marked its day’s high at 34,008.35 adding 350.89 points. It settled higher by 204.13 points at 33,861.59. The KMI 30 Index accumulated 386.53 points to settle at 55,155.92, while the KSE All Share Index managed to gain 86.13 points, ending at 24,543.78.
-Sindh to reserve 0.5% job quota for transgender persons
The Sindh Cabinet on Wednesday agreed to reserve 0.5 per cent quota in government jobs for transgender persons. “I want to bring transgender people into the mainstream,” said Sindh Chief Minister Syed Murad Ali Shah during the cabinet meeting. “We want to make them an asset for our society.”
CM Murad congratulated the transgender community on behalf of the cabinet and advised them to improve their education. Around 41,000 positions are vacant in different government departments across Sindh out of which 206 will be given to transgender people.
A spokesperson from the chief minister’s house stated that out of the 41,000 available jobs 16,000 positions will be filled this fiscal year. Rest of the positions will be filled in the period of next three years.
-Malaysia's Mahathir stands by Kashmir comments despite India palm oil boycott
Malaysian Prime Minister Mahathir Mohamad said on Tuesday he would not retract his criticism of New Delhi’s actions in occupied Kashmir despite Indian traders calling for an unprecedented boycott of Malaysian palm oil.
The impasse could exacerbate what Mahathir described as a trade war between the world’s second biggest producer and exporter of the commodity and its biggest buyer so far this year.
India’s top vegetable oil trade body on Monday asked its members to stop buying Malaysian palm oil after Mahathir said at the United Nations General Assembly last month that India had “invaded and occupied” Kashmir.
-“World’s two major companies setting up solar panel plants in Pakistan”
Federal Minister for Science and Technology Fawad Chaudhry announced on Monday that the world’s two major solar panel firms will establish their plants in Pakistan. The minister tweeted saying “good news gets lost in political plays, yet I am very happy that the world’s two major companies are setting up solar panel’s plants in Pakistan.”
Chaudhry added that China’s second-largest Lithium battery producer will also set up its workshop in Pakistan. The Lithium battery-powered buses will also be manufactured in Pakistan, the tweet further said. The Minister for Science and Technology was recently on a visit to Beijing where he met various Chinese officials and the country’s business leaders.
-Pakistan Navy organizes free medical camp in Balochistan
Navy organized a free medical camp in the village Dam of Balochistan in collaboration with Sahil and Ulfat welfare foundations. According to the spokesperson of Pakistan Navy, specialist doctors of surgical, medical, skin, gynecology, child and general medically inspected patients at the camp. Over 700 patients were provided with free medical treatment, medicines and ordinary surgical facilities.
-Lahore to get Tram service soon
Citizens of Lahore are getting a modern-day tram service soon, based on the famous British-era tram service. In this regard, the Punjab Transport Department has inked an agreement with CRSC International, a Chinese company specializing in rail transportation control systems, and Inkon Group of the Czech Republic.
The development of the project is divided into several phases. In the first phase, a 35 km track will be constructed on Canal Road, Lahore. Up to 50 trams will run on this track. Once operational, the trams will be able to carry 35,000 passengers in 1 hour. The trams will be powered through electricity and batteries. A single tram will have a service life of around 40 years. 2 tram depots will be constructed at different locations as well.
-10 Pakistani Universities Ranked Among the World’s Best in ‘University Impact Rankings 2019’
Ten Pakistani universities have been ranked among the top universities in the world in the Times Higher Education (THE)’s list. THE is a weekly UK-based magazine that issues its annual list of world’s most influential universities.
The list called ‘University Impact Rankings 2019’ has included 10 Pakistani varsities in different categories, including Gender Equality, Good Health and Well-being, Quality Education, Decent Work, Economic Growth, and others. According to the magazine, the rankings assess universities against the United Nations’ Sustainable Development Goals.
-PM Imran Khan inaugurates China-Hub Power Generation Plant in Balochistan
Prime Minister (PM) Imran Khan has said that Pakistan is moving forward through China-Pakistan Economic Corridor (CPEC) projects. Addressing inaugural ceremony of China Hub Power Generation Plant in Balochistan, he said this is the first joint project under the CPEC umbrella and he is very happy after inaugurating it.
“The government will facilitate joint collaboration between Pakistani and Chinese businesses in various sectors.”, he said. PM Imran Khan said with the help of coal reserves in Thar, Pakistan can generate huge amount of electricity, which can be enough for at least 100 years.
-Punjab Forest Department develops ‘record keeping’ mechanism
Department of Forest Punjab is managing 1.6 million acres of forest land area – 67 per cent of the entire forest land area in Punjab – under the Geographic Information System (GIS), Pakistan Today learnt reliably on Friday. The program enabled the forests department to ensure sound management and introduce state of the art record-keeping and mapping methods.
‘Development of GIS-Based Forest Management Information System in Punjab’ was approved at PC-1 with a cost of Rs75 million and a gestation period of 36 months (2016-2019) has allowed for transfer of all forest resources and inventories into IT-based inventory systems and achieved extensive field surveys, rapid data collection and its processing for development of the forestry sector on efficient lines.
-Hutchison Port Holdings announces $240m investment in Pakistan
Prime Minister Imran Khan has welcomed $240 million foreign investment from Hutchison Port Holdings, a Hong Kong-based port operator. A delegation of Hutchison Port Holdings, led by its Group Managing Director Eric Ip, called on Prime Minister Imran Khan on Tuesday. Other delegation members included HPH Middle East & Africa Managing Director Andy Tsoi and Middle East & Africa Business Director Eric Ng.
Maritime Affairs Minister Syed Ali Haider Zaidi, Adviser to PM on Commerce Abdul Razzaq Dawood, Special Assistant to PM on Overseas Pakistanis Syed Zulfiqar Abbas Bukhari, Ambassador-at-Large for Foreign Investment Ali Jehangir Siddiqui and Board of Investment Chairman Zubair Haider Gilani were also present on the occasion. Group Managing Director Eric Ip apprised the prime minister of Hutchison’s fresh investment into Pakistan approximating $240 million which will enhance the new container terminal capacity at the Karachi Port, and increase Hutchison Ports’ total investment in Pakistan to $1 billion.
-Punjab's tax collection jumps 44%
Punjab’s tax collection registered a 44% growth to Rs77 billion in first quarter of the ongoing fiscal year compared to the corresponding period of previous year, despite tough conditions of the federal government for the provinces to get a share in the federal divisible pool of resources. Punjab Finance Minister Makhdoom Hashim Jawan Bakht disclosed this at a review meeting of the Finance Department on Monday.
The meeting was briefed that despite the financial backlog left by the previous government, the current government gave a surplus budget of Rs233 billion in order to meet financial requirements of the federal government to comply with conditions of the International Monetary Fund (IMF) loan programme.
-‘SECP recognised as 7th most effective regulator in world’
The Securities and Exchange Commission of Pakistan (SECP) has been recognised as the “7th most effective regulator” by the World Economic Forum in its ‘Global Competitiveness Report-2019’.
“Pakistan was ranked as the 52nd most dynamic economy in the world. The country secured this by improving 15 points from last year, as it stood at 67th in 2018,” said a statement issued by Mishal Pakistan, Country Partner at WEF’s Institute of the Future of Economic Progress System Initiative, on Wednesday. “The progress of Pakistan’s competitiveness was due to the achievements made during the last 12 months.”
The most effective improvements were made due to the initiative and strategies adopted by the apex regulator for the corporate sector and the capital markets; supervision and regulation of insurance, non-banking financial companies and private pension schemes. The SECP improved Pakistan’s competitiveness rankings by improving the “number of days to start a business”, where Pakistan was ranked at the 90th position compared with 96th in 2018.
-Pakistan China bilateral trade crosses $19 billion, highest ever in history
Pakistan Ambassador to China , Naghmana Hashmi has said the bilateral trade volume between Pakistan and China has now touched US $ 19.08 billion and both countries aimed to raise it further.
“The bilateral trade volume between Pakistan and China has now touched US$ 19.08. We aim to raise it further,” Ambassador Hashmi said joint ventures in defence production have led to the manufacture of the MBT 2000 Al-Khalid Tank and JF-17 Thunder, a fighter aircraft. “On the diplomatic front, the two countries are committed to protecting and promoting multilateralism and upholding the United Nations (UN)Charter, while our cooperation has extended to science and technology, socioeconomic sectors and nuclear cooperation for peaceful purposes,” she added.
-Foreign Company Agrees to Drop $6 Billion Penalty, Re-Invest in Reko Diq: Reports
The International Center of Settlement of Investment Disputes (ICSID) had slapped the country with a $6 billion penalty for revoking the contract without prior knowledge back in 2009. Soon after the development, the Prime Minister had empowered his financial team to contact the executives of the Tethyan Copper Company (TCC) to reach an out-of-court settlement and avoid the penalty.
Reportedly, after the Pakistan authority’s approach, the company has not only agreed to take back the penalty but has also agreed to invest in the project again. As per media reports, PM Imran Khan contacted the TCC management and discussed the prospects of the matter. He assured the company his full support if they wanted to revise the investment plan for the project. The company will reportedly withdraw its appeal from the ICSID, while Pakistan will compensate for their damages due to the cancelation of the contract.
-Current account deficit shrinks massive 64pc
The country’s current account deficit (cad) in the first quarter of current fiscal year declined by a huge 64 per cent mainly on the back of a 21pc reduction in the imports bill.
The State Bank’s latest data issued on Friday showed the current account deficit for July-September FY20 clocked in at $1.548 billion compared to $4.287bn in the same period last fiscal year; a decline of $2.739bn.
The reduced current account deficit is a positive omen for the government, which is struggling with slow economic growth and high inflation. However, despite massive decline in rupee’s value, the country’s exports have failed to register any noticeable increase during the period.
-Food imports down 24pc, exports up 14pc in Q1 FY20
Food group imports into the country during the first quarter of the current financial year (July-Sept 2019-20) decreased considerably by 24.7pc, whereas exports increased by 13.98pc compared with the corresponding period of last year.
The import of food commodities into the country during the period under review came down from $1.45 billion to $1 billion, whereas the exports increased from $864 million to $984.7 million, according to latest data released by the Pakistan Bureau of Statistics (PBS).
-Chinese Smartphone Company Realme to build mobile phone manufacturing factory in Pakistan
Chinese company Realme's Director of Marketing in Pakistan Mr He Shunzi in an interview disclosed that Realme is planning to set up the mobile phone manufacturing factory in Pakistan. He told that company is inspecting locations in Islamabad, Peshawar, and Faisalabad Industrial Estate for suitable land. Pakistani mobile market offers guaranteed capital as Realme ranked top five android brands in Pakistan in less than nine months, capturing 8% of total market share, he added.
-Chinese Coal Giant Wants to Convert Thar’s Coal to Diesel
China’s Shenhua Ningxia Coal Industry Group will help convert Thar’s coal into oil and the talks between the two parties are underway. The Shenhua Ningxia Coal Industry Group is a subsidiary of China’s biggest coal producer, the Shenhua Group and the company already has the world’s largest plant for converting coal into diesel, with an annual production capacity of 4 million tons in Ningxia in its portfolio.
The agreement, if signed, will be a ‘game-changer’ for Pakistan, believes Adviser to Prime Minister on Petroleum Nadeem Babar, who accompanied Imran Khan on his recent visit to China. The Pakistani delegation held talks with the Shenhua Group during the trip:
-In a positive development, Pakistan projected among top 20 rising economic growth engines of the World
Pakistan projected among 20 top rising economic growth engines of the World that would dominate the global growth in next 5 years. Pakistan has been projected as one of 20 countries that will dominate global growth in five years time in 2024, an assessment made by Bloomberg using data from the International Monetary Fund (IMF).
-In a positive development, Pakistan textile exports register increase
Textile exports from the country increased by 2.95pc during the first quarter of the current fiscal year (July-Sept FY20) compared with the corresponding period of the last fiscal year. The textile exports during the period under review were recorded at $3,371.974 million as against the exports of $3,275.303 million during July-September 2018-19, according to latest data by the Pakistan Bureau of Statistics (PBS).
The textile commodities that contributed to the positive growth included raw cotton, exports of which grew by 53.65pc, from $7.047 million to $10.828 million. Similarly, the exports of yarn (other than cotton yarn) increased by 21.95pc, from $7.759 million last year to $9.462 million, while that of knitwear surged by 11.14pc, from $701.393 million to $779.548 million.
-Kartarpur Corridor will open to public on November 9: PM Imran
Prime Minister Imran Khan on Sunday announced that Pakistan will inaugurate the Kartarpur Corridor on November 9. The premier’s announcement came via a Facebook post in which he said that construction work on the Pakistani side had entered the final stage. “Pakistan is all set to open its doors for Sikhs from all across the globe,” he wrote. “World’s largest Gurdwara will be visited by Sikhs from across India and other parts of the world,” he said.
-'$1.2b penalty in Karkey case likely to be waived'
Pakistan Tehreek-e-Insaf (PTI) leader and senior lawyer Babar Awan has said that the $1.2 billion penalty that Pakistan has to pay to Turkey’s Karkey rental power plant is likely to be waived.
“International institutions, through high-level backdoor contacts, have agreed to waive off the penalty. This is very good news for Pakistan,” said Awan while addressing the media on Friday. “International institutions have shown their trust in Prime Minister Imran Khan,” he added.
-Punjab Govt to Introduce a Unified Tax Collection System
Punjab government is contemplating the introduction of a unified tax collection system in the province. The unified system will streamline the tax collection process and facilitate the taxpayers. At the moment, Punjab Revenue Department, Excise and Taxation Department, and local administrations collect taxes in Punjab. On Sunday, Finance Minister of Punjab, Makhdoom Hashim Jawan Bakht, headed a meeting of Punjab Revenue Authority (PRA). Bakht said that a special tax management unit will be set up at the Punjab finance department that will unify tax collection all across the country.
-PM To Launch Clean Green Pakistan Index for Multiple Cities
Prime Minister’s Adviser on Climate Change, Malik Amin Aslam, said that Imran Khan will launch the Clean Green Pakistan Index (CGPI) at a grand launching ceremony on October 30. The initiative is aimed at introducing competition among cities on various indicators, including public access to clean drinking water, safe sanitation, effective solid waste management, and tree plantation.
The prime minister will announce a six-month competition among 19 cities of Punjab and Khyber-Pakhtunkhwa provinces, he added. The adviser said that after six months, these cities will be ranked again and those with prominent progress will be rewarded with special federal and provincial government funds and more cities will be joining the competition.
-PM Khan Will Lay The Foundation of Baba Guru Nanak University on Oct. 28
Prime Minister Imran Khan is going to lay the foundation stone of Baba Guru Nanak University on October 28. The establishment of this university in Nankana Sahib was announced earlier this year when PM Khan was in the town for a Spring Tree Plantation Campaign.
-Sindh govt invites bids for Dhabeji SEZ
The Sindh government has launched the well-connected Dhabeji Special Economic Zone in district Thatta near Port Qasim, according to a statement issued on Monday. In this connection, the Sindh Economic Zones Management Company (SEZMC), being the provincial SEZ custodian, has invited proposals for the development and operation of Dhabeji project through an advertisement published in leading national and international newspapers.
Dhabeji SEZ was highlighted in the recent meeting of the China-Pakistan Economic Corridor (CPEC) Joint Working Group on Industrial Cooperation. The senior officials of China’s National Development Reforms Commission (NDRC) appreciated the Sindh government on the progress made so far. The Sindh government launched the project through an international competitive bidding process as a build-up to the upcoming 10th Joint Coordination Committee (JCC) meeting between China and Pakistan, which would be held next month.
-Rice exports surge 51pc in first quarter FY20
Rice exports from the country during the first quarter of the financial year 2019-20 grew by 50.76pc as compared to the corresponding period last year. During the July-September period, about 839,356 metric tonnes of rice, worth $470.584 million, were exported as compared the exports of 551.5,86 metric tonnes, valuing $312.147 million, during the same period of FY19.
According to data released by the Pakistan Bureau of Statistics, the exports of basmati rice increased by 47.29pc, as 212,873 metric tonnes of basmati rice ($194.669 million) were exported during the first quarter of FY20, as compared the 127,669 metric tonnes ($132.166 million) in the same period of last year. Meanwhile, 34,090 metric tonnes of fish and fish preparations worth $79.549 million were also exported in the period under review as compared to the exports of 25,859 metric tonnes valuing $67.294 million during the same period of last year.
submitted by FashBasher1 to pakistan [link] [comments]

Kin Swap FAQ + Video Tutorials + Guides (Multiple Languages)

FAQs:

1) Do I need to swap?
Yes. Kin is migrating to its own Blockchain which will be the only system connected to their SDKs.
If you do not transfer your Kin you will be left with the ERC-20 tokens. The Kin Foundation claims there will be an on-going one way swap method manually via Kin's support staff in the future if you miss the swap window. We have no further details on how this process will work, how long it will take or if it will always be available. Kin ERC20 tokens will not be used in the main Kin blockchain, SDK or apps.
2) Can't I swap back?
No. The original plan was to have a programmatic 1:1 swap always available. This was abandoned.
This is a one-time swap. It is only available through exchange partners.
3) Do I need to swap my Kin if it is in an app like Kik, Kinit, Kinny, Swelly or MadLipz?
No. This Kin is being migrated for you.
4) Do I need to swap my Kin if I have it in an exchange?
Yes. If your exchange is not:
Or you were not previously holding Kin on:
Then you MUST move your Kin in order to swap it. It will not swap automatically.
5) Will other exchanges support the swap?
We don't know. The Kin documentation is unclear, and it seems unlikely based on the time constraints set. If they do, there is no guarantee that there will not be a fee.
6) Are their fees for the transaction?
Kin's documentation has said partners are not charging fees. There still may be network fees. You should talk to the customer support of each service before swapping if you are worried about fees.
7) If my Kin is in a wallet like Jaxx, MEW, Coinimi, etc do I have to swap?
Yes. You must manually swap.
8) Is there any way to swap that is not an exchange?
Yes. CoinSwitch and Changelly are technically not exchanges but also support the swap.
9) Is there anyway to swap that is not a third-party service?
No.
10) How much time do I have?
For the current exchanges you have until April 10th. (EST)
For CoinSwitch and Changelly you have until June 12th.
11) What happens after June 12th?
We have no idea. We are told there will be a manual swap method available for individuals who were unable to swap prior to that time. What this looks like is still unclear.
12) How do I swap?
Right now we are in Phase 2 of the swap, there are less options for swapping currently. You can see the Phase 2 guide here: http://nufi.io/how-to-swap-your-kin-with-p2pb2b/
13) Should I use FreeWallet, AtomicWallet or TrustWallet?
Both of those services come with risks. FreeWallet is centralized and is owned by HitBTC a controversial exchange commonly accused of scamming.
AtomicWallet requires running third-party software on your system.
Neither are ideal or recommended. If you are using a wallet you should consider buying a Ledger device, or Creating a Paper Wallet?. If neither of those are an option then you can use TrustWallet by Binance.
14) Which exchange is the safest?
That is a matter of personal opinion. Right now your only option is P2PB2B
15) Should I use CoinSwitch?
CoinSwitch is an unknown and fairly new team from India. The process of switching has been smooth for some people so far, but, it is worth proceeding with caution. Multiple virus scanners such as F-Secure and McAffee also suggest it is an unsafe site.
The main problem is that to use Changelly or CoinSwitch you must either manually set up your Ledger to support Kin, or use AtomicWallet or FreeWallet - which is not advisable.
16) When will I get my Kin?
If you use the instant switching from CoinSwitch or Changelly you should get the Kin3 within a few minutes.
If you use Lykke or LAToken you will get your Kin3 March 26th.
If you use any of the other exchanges you will get your Kin3 on March 21st.
For Phase 2 using P2PB2B you will get your coins on April 12th or 13th.
17) Is Trezor supported?
No.
18) If my Kin are in HitBTC do I need to do anything?
Technically no. But, HitBTC has very expensive withdraw fees and a pretty bad reputation. You should check out the guide below for other options.
19) If I am out of the country and away from my hardware wallet for 3-6+ months how will I deal with the swap?
This has been discussed with Kin support, they claim they will have a manual email service for people who are in this situation. No further information has been given at this time. It is unclear if any proof is required or what the process involves. It is unclear if the process is only for ICO holders.
20) What if I have Kin on Stellar from Stellarport etc?
Stellar assets like that are issued as "IOUs" from the Stellar Anchor you bought them at. They are not tokens. In theory, who ever sold you the IOU should have Kin1 tokens that they are holding in balance when issued. They should swap these tokens to Kin3 and provide you with a Kin3 IOU or the Kin3 itself. You will need to contact the support at your Stellar Anchor to confirm more.
21) Are more exchanges coming?
Yes. We know more exchanges are coming, but we have no idea when, or which exchanges.
22) I'm doing your tutorial on How to Build Manual Ledger Transactions but getting the error code op_no_destination?
This means the wallet you are trying to send to isn't activated yet. Wallets on Stellar don't get created when the keypair is generated, they get created by another wallet activating and funding them. You must use the operation "CreateAccount" rather than "Payment" when building the transaction.
23) I'm doing your tutorial on How to Build Manual Ledger Transactions but getting the error code Unsupported Media Type?
Most likely you are on the Kin test network and not the main network. Check the upper right hand corner of the lab and switch to the public network.
24) How do I transfer from MEW?
Simply follow either the How to Swap Kin with Exchanges (Beginners) or How to Swap Kin with Ledger (Advanced Users Only) but instead of sending from a Ledger send the tokens from your MEW wallet. If you choose to do the instant swap you'll need to have a Kin3 compatible wallet such as a paper wallet (How to create a Kin Paper Wallet/What is a Paper Wallet?)
24) I have other questions not answered here?
I've set up a specific Question Thread to better keep track of issues.
25) Where can I stay up to date on this stuff?
Since there hasn't been much official guidance, I've been tweeting about important updates as they develop. You can follow the account I set up here: @crypto_adamsc1

Guides:

International Guides:

Videos:

Kin FAQ in other languages:

submitted by AdamSC1 to KinFoundation [link] [comments]

Creating synthetic foreign currencies with DAI

Hey guys
Just wanted to a sense check on this tweet.
The essence of it is that foreign currency synthetics could likely be a reality in 2020 How will it work?
Basically I've been thinking once a floor of reliance on DAI is established, it will be possible that synthetic foreign currencies in regions where foreign currency volatility is not high could likely sprout. Why does this matter? Because currencies set context for use-cases. Lending circles in Indonesia would rather prefer a regional currency than USD to hedge against inflation risks. Similarly traders in India may much rather prefer a synthetic INR to cash in on the premium (against Bitcoin) vs paying a premium on USDT purchases (Note : There's a typical 3-5% premium on buying dollars in India). I think contextual use-cases in geospecific regions could spur if synthetic stablecoin foreign currencies are launched.
The added use-cases for this are multiple

There's a lot more thinking that needs to happen around this. Just putting it out in the wild to know if someone else is working/ thinking about this.
Edit : Sorry if adding my tweet up there is shilly - will remove it
Regards
submitted by WiseAcanthisitta5 to ethfinance [link] [comments]

Preparing for the Impulse - GBPUSD, Traps to Expect and Trades to Make

Preparing for the Impulse - GBPUSD, Traps to Expect and Trades to Make
Part One
Perquisite Posts;
https://www.reddit.com/Forex/comments/clbxk2/shorting_noobs_common_trend_following_mistakes_im/
https://www.reddit.com/Forex/comments/clx0v9/profiting_in_trends_planning_for_the_impulsive/
https://www.reddit.com/Forex/comments/ctyr3p/gbpusd_shaping_up_for_good_sell_but_not_quite_yet/

It will benefit your understanding of this to take some time to read through at least all of these post, and also my other ones. Over the last weeks I've introduced some concepts I think are useful, demonstrated how a person could use them to make profit and presented for consideration ways you can go and test if what I am saying is true in your trading. Now I am going to start to bring this all together to show you how a person can plan well ahead and be well prepared to profit in Forex.

Three weeks ago I gave a swing analysis on GBPUSD (as part of speaking about a broader idea of trend following). It said this.
https://preview.redd.it/q60ia0ophhi31.png?width=691&format=png&auto=webp&s=cf7495e47ea212e5f094bae232f49d700805579a
Source https://www.reddit.com/Forex/comments/clbxk2/shorting_noobs_common_trend_following_mistakes_im/

Long term bearish picture here of 1.190. An area I expect us to have a big move in possibly feature a 100 plus pip candle (dare I speculate ... news event, or random fundamental). We got into 1.199s, and then price started to stall.
I then explain by "ping swing" theory and pointed out all the indicators this ping swing was coming.

https://preview.redd.it/wsdjmcb9ihi31.png?width=685&format=png&auto=webp&s=8aad9d994b85d076397a6f07493a0d174012d144

https://preview.redd.it/oe7823ncihi31.png?width=756&format=png&auto=webp&s=91dd90e89bf8d3514e63fe0abd6ac6ecdeba26d1
When explaining what the ping swing was all about, I said it set up the really big move in the other direction. The breakout. What I more commonly refer to as the impulse leg.

https://preview.redd.it/bqd1nzmpihi31.png?width=702&format=png&auto=webp&s=e5a20bc5373448056b37b2fc155c7889ce7a3739
Source https://www.reddit.com/Forex/comments/clx0v9/profiting_in_trends_planning_for_the_impulsive/

So based upon all of these factors I am prepared to trade a move that may be surprisingly strong from a really specific area (will get into trades later). Everything in my analysis form and strategies design allow me to be ready and position my trades to profit from some wild event there may be in the coming week or two weeks (maybe three ... four, eeek. I'm hedging). Now I'm not saying I know there is going to be a certain type of Brexit news ... I do not care. I'm not saying we should think it's very possible the FOMC spikes high and then fucking crashes (surely something to do with that illusive "pricing in" thing) ... I do not care. I am not predicting these fundamental events.

What I am saying is based upon the information I have shared with you so far, a person can design a trade plan that would position them for this sort of price action, and this sort of price action almost always happens when there's a news event. Got that? Think it's very possible there is a huge swing coming, entirely unrelated to any news events that may happen in the future that I could not know about now.

What sort of price action could we expect ... ?

We already have the trade plan for that last week.
https://preview.redd.it/ymsbcbc7khi31.png?width=723&format=png&auto=webp&s=77468b23e015a36b2fffc693f7a899facd7b82e1
Source https://www.reddit.com/Forex/comments/ctyr3p/gbpusd_shaping_up_for_good_sell_but_not_quite_yet/

GBPUSD closed near the high on some of my brokers but crashed 30 pips in the last minute of the day on another, and this probably means it's opening up gap low. Exactly what we'd expect.

Why?

https://preview.redd.it/uai4g2blkhi31.png?width=893&format=png&auto=webp&s=df1c62af4605534a942753a5a311c28f8ae6b1ac
Do this experiment, find this double top pattern. Find the "confirmation" move I explained, and then honestly think where you'd set a stop "safe above the highs" here. Count how many pips it went past that. Probably about 5 - 7 and then crashed. That's the trap.

Lays the next trap. For this let's recap the traps I've shown you and see where we are in the cycle of possible mistakes.

https://preview.redd.it/2mkipd82lhi31.png?width=711&format=png&auto=webp&s=bc48f68d785cef1a46c3d4e96fbe675c2cf056dd
Last week I said we were at the transition from black to blue. Then "the news" made that happen. Then late in the week I said look for spike out trend continuations. All this happened.
So selling into that event was either devastatingly unlucky, there was nothing you can do about it and it is what it is if it happens again (frequently). Or, it was selling mistake #2 (shown as 4 here near the low)
https://preview.redd.it/4xrmb3pilhi31.png?width=717&format=png&auto=webp&s=825bc81b68fc5a465b65d87634f7888a4be87c97
What do we have after selling mistake number #2. Selling mistake number #3 (no need to re-invest the wheel).
#3 is a 5 (just to be confusing), and this is "deep correction" selling mistake. Would you think it would be fair to agree anyone selling the double top like move we've discussed here would have made the mistake of thinking a deep correction was a trend continuation? People will have. They do every cycle. This is why I can "predict" it. Or, it's lucky and there's no way you can know. Pick your flavor.
Mistake #4 . Single candle price action. In this case I am forecasting this to be the crash pre-close (on some brokers) or the gap down (a gap is just a big swing). This looks like the real deal on the trend continuation. People will sell into this early in the week. It may be in the form of a big gap down, it making it's low early in the week and then people sell the gap fill (or part retrace). Anyway, the better trade is on the other side of this. We have not yet hit the 61.8 fib and this sort of sell off would be a "known" seller trap.
#5 tends to form when price first hits the 61.8, There is an immediate and dramatic sell off. Then there is a spike out of the 61.8 and the real trend move begins. We should watch for this sort of action Tue/Wed and should expect to be seeing it (very specifically) close to 1.2343.
Which is no surprise to see shaping up since this specific PA is what I started speaking about when it was at the lows.
https://preview.redd.it/frstw4dinhi31.png?width=609&format=png&auto=webp&s=97b635c00a004352b990e322524d48400b809888

So if we see these further confirms;

1 - Price spikes/gaps down and then returns aggressively to the high
2 - Price hits 61.8 and falls quickly
3 - These things happen in the immediate foreshadow of a news event (FOMC?)

All of these things would be consistent with things that happen before the following scenario:

1 - News is released. It's unexpected. Either the number is off, it was random (tweet etc) or the market just moved totally different from how it would be expected to (cue theories to fill gaps).

2 - Price moves rapidly up. It makes a "new breakout" of a "key level", and then capitulates. 100 + pips can be moved in very short periods of time.

3 - After this move has happened, there is a sharp low made and we uptrend for the next few weeks.

I am not "predicting the future", but this is a viable trade plan for the coming week(s). We sell GBPUSD 1.2340 area. Stop 1.2410 or so. We target 1.1900. Then we look for the market to make a low (after a very volatile fall) in the 1.1850 sort of area. As a rule of thumb (and I am not being flippant, this is true), if you see people in forums asking what just happened, that will probably be your cue to go and find this trade on your chart. This is a regular indicator.

I think if this is to happen this week, the high will be made Wed/Thurs and crash late week. If it's not to happen this week, a ranging week may be ahead. Even a couple weeks. These would not invalidate the analysis, for the market to range a few weeks to form a "strong high" and then do this take out move I've described is also something to be expected. I would be surprised to not see GBPUSD drop 300 pip from the high in coming month.

Prepare for the Impulse!
submitted by whatthefx to Forex [link] [comments]

Shorting Noobs - Fake News, False Breakouts and the Sneeze.

Shorting Noobs - Fake News, False Breakouts and the Sneeze.
Part [1] [2] [3] [4] [5] [6]
In preparation for the possibility of GBPUSD (et al) making some major spike out moves on large charts and potentially entering into sharp corrective moves, I've been honing in on another area of trend trading mistakes. Up to now, the main focus has been on the 50/61 trap [2] [3]. This has been largely effective. Some pretty wild swings, but it's ultimately swinging in the right direction. This is to be expected. Markets have made this sort of pattern for decades. I've no idea why people think it's not there or is going away any time soon. For the time being, betting on it has great odds.

I've said in previous posts the 61.8 trap formation is one of the areas where most of the money is made and lost in Forex. This is the other one. Between these two points, it would be my guess this is where most retail traders lose their money. It's where I've lost most of mine, I am sure of that. They are cunning traps, and these traps snap down hard. In the 50/61 trap section we've covered how to enter into the start of trend legs, and now we'll cover how to exit at the optimum profit level (and reverse).

We'll start looking at what I've explained previously while alluding to this mistake. This is the first selling mistake, indicated in the chart here with a 3 as we switch from black to blue.

https://preview.redd.it/l0hwb7k9eqi31.png?width=715&format=png&auto=webp&s=a49ea3bbf2cac1ecaca171baa16b5cac241b2111
Source: https://www.reddit.com/Forex/comments/clbxk2/shorting_noobs_common_trend_following_mistakes_im/

The mistake is explained as "breakout trading rushing in", and also as an area people are stopped out using H/L rules.
I've explain many times in many ways how news events can carry what essentially amounts to misinformation in terms of what you do in trading, and how these events are often found marking out the extremes in trend moves. I've mainly focused on entering in line with the trend to this point, but the same is true for the end of a trend/start of correction.

https://preview.redd.it/k3m9fkngfqi31.png?width=715&format=png&auto=webp&s=9f2b56e619445b0ce8e58352bfbca02e6428ae42
https://www.reddit.com/Forex/comments/clbxk2/shorting_noobs_common_trend_following_mistakes_im/

I've also explained how I design my trade plans ignoring any news there may be in the sense that I do not do analysis on it (or try to guess it). While doing this I've explained that I do think it's very possible news events will feature during the moves. They usually do. I do not need to know about them. All I need to do is make a trade plan that understands it might have volatile moves in it, and how a person would give themselves the best chance to profit from that.

https://preview.redd.it/0dboiov1gqi31.png?width=709&format=png&auto=webp&s=61b89626b18a18452b27ef2756631bd58d6ca445

This news stuff is very important. You need to understand that when I think about news events, I think of them in terms of the sort of price moves they create ... because nothing else matters!
I know in some parts of the cycles price moves fast. Sometimes it moves in ways that abnormal, seeming. I also know that when there are news events, these are the things that happen. So when we are trading in areas where I know price can move aggressively, I also know there may be news triggers for this. Here are the areas I'd expect news triggers. Red circles are sell news and green buy news.

https://preview.redd.it/sj07v00khqi31.png?width=736&format=png&auto=webp&s=6f71af323d151cfc6fe6b83f2c19465b3c8c907c
Of course, the way the market actually moves does not have to make any sense at all relative to the news. Let's face it, it rarely does. Not without some mental gymnastics anyway. This is why I'm not paying attention to that. There are points at which I actually expect the news move to make no sense at all. One of these is in the rally to retest the high, notice the circle for the news event is before the spike up.
So when I make winning trades that take profit in some news event, it's entirely correct to say I did not know that was going to happen. However, it's entirely incorrect to assume I did not calculate there being "some event". It is wrong to think yourself mere cannon fodder to these sorts of events, you can do better (Test! I'd like you to come to understand this, and it must be learned, there's only so much I can teach).

Now, I had been setting this up to trade the possible swing from GBPUSD making a spike out low, and this would have been some time from now (at least days, I'd expect) but we've got a chance to test out this feature early using social indicators. Social indicators are a thing. They are really useful for spotting these.

https://preview.redd.it/b458e36bkqi31.png?width=751&format=png&auto=webp&s=49d8e44741989d6c8ee7121733f0d2dd7b2e31ab
Main sorts of indicators. "What just happened?", "HUGE breakout on XXXXXX", "Game changing news .... XXXXXX breaks the highs ... to the moon". Any of this stuff, when you see it and go look on a chart for counter signals of whatever it is that is implying. Look and see if we've had the conditions that predict this kind of breakout - then fade the public chatter.
Look out for flash in the pan news events. Do not follow these, they are nonsense. I promise you, when there's someone who tells you otherwise talking about what they think happened, I am executing on my positions. When they first found out something was happening, I may well have been hitting my take profits.

These "market movers" tend to be over and done with in an hour. Unless you followed them ... then you're stuck in a shitty trade for as long as that takes.

Bringing us to our social trigger. Someone posts a Trump tweet. Apparently these are important. I've not noticed. I am in trading positions most of the time he tweets, usually a few days later I find out that was "why it happened". The thought of using this for real time indicators to follow is madness to me, now. There's a time I'd have thought that perfectly logical. When you do the charting hours, it does not make sense. So should be ignored.


https://preview.redd.it/fy503xs3kqi31.png?width=506&format=png&auto=webp&s=6c4ffa3db2d85fd672e4665185636202e3de7dfe

Maybe not entirely ignored. When I seen this, I went and checked for counter trading signals on USDJPY. Seen one instantly (social indicators are fucking accurate, I'm being serious).
This was the position I took. I also suggested the poster stopped following this bullshit.

https://preview.redd.it/kjzszt9ylqi31.png?width=689&format=png&auto=webp&s=5cda228fd244b558cfe3efaecb171bb7cbfaa8bf
Source: https://www.reddit.com/Forex/comments/cvdjzv/will_the_usdjpy_breakout/ey3xr6y/?context=3

I explained the mistake.
https://preview.redd.it/qbl9mbdamqi31.png?width=567&format=png&auto=webp&s=e346d013d4c4919ae709f6be22d476917194fcb7
Source: https://www.reddit.com/Forex/comments/cvdjzv/will_the_usdjpy_breakout/ey43knb/?context=3

Here is what that looks like on a chart. Blue circle is where the breakout alert comes, green circle is where I bought.

https://preview.redd.it/uc33jx6roqi31.png?width=810&format=png&auto=webp&s=7df939a336ef903f67628fc9a410cf452c84a356
We can see this is probably not something we want to be basing our trading decision on. Quite evidently.
After taking my position, I took some time to explain the situation to someone who commented saying they'd bailed out on a sell after reading through my posts (good things happen when you read my posts with an open mind). Price spiked 100 pips from the price they escaped on.

https://preview.redd.it/9gwu2mfdpqi31.png?width=738&format=png&auto=webp&s=23e5a1a7fdd0d076e38f1d6318845848041cf1f0

https://preview.redd.it/99vbci1gpqi31.png?width=688&format=png&auto=webp&s=2bba455a946f836fe94e4f82b08f2481e4edcb02

So our strategy to trade from here is simple. We buy into the sharp drops on USDJPY. We watch for short term drops and mini false breakouts - then we buy for the "swish" up move. The same strategy I said could be used on GBPUSD early last week, you know ... before the news made it happen.

We do have to be cautious, price can re-test the lows (and it can do it in one big fast candle). It can even make a further breakout (which could be stronger). For as long as USDJPY trades above the lows it's made in the start of the week, though we should see all drops in price as opportunities to buy with great risk:reward.
With this in mind, I've activated my trend traders on USDJPY, they should start to sell the false sell offs for me, and be putting me in nicely near the end of the bear traps. We might be on the way to seller mistake #2. Where the break/retest trade fails, and if we this should be very profitable betting against those who get slaughtered in the quick correction.

Update:
This has done really well, as would be expected. This really is a deadly part of the market for trend followers.

https://preview.redd.it/yi8qqdjq7ri31.png?width=817&format=png&auto=webp&s=eeb5ade882dfc3a7ff1d17bfbd432f994be7065d
submitted by whatthefx to Forex [link] [comments]

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The "One Candle" Rule (Podcast Episode 39)

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